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The business forum accompanying October’s Commonwealth Heads of Government Meeting in Perth has attracted a star-studded line-up of speakers. In an email to potential attendees yesterday, the Commonwealth Business Forum unveiled as key speakers 2004 Nobel laureate in economics Edward Prescott, 2006 Nobel winner Edmund Phelps and Professor “Dr Doom" Nouriel Roubini. A host of Australian and international corporate leaders will also address the forum, including mining magnate
Andrew Forrest
, NAB chairman
Michael Chaney
, BP chief executive Bob Dudley and Goldman Sachs’ Indian boss, Sonjoy Chatterjee. Peter Kerr

Defence Force chief Air Chief Marshal
Angus Houston
said yesterday the coalition was making substantial progress against the Taliban but expected a fierce summer fighting season ahead. He said Australian forces planned to hand over responsibility of Oruzgan province to Afghan security forces between 2012 and 2014. But he cautioned that while important progress had been made, it remained fragile and was reversible. John Kerin

Another suspected asylum seeker boat has arrived in Australian waters. ACV Botany Bay intercepted the vessel north of Ashmore Reef off the north-western coast of Australia yesterday. The boat was carrying an estimated 52 passengers and four crew, Home Affairs Minister
Brendan O’Connor
said. “The passengers will be transferred to Christmas Island pending removal to another country," Mr O’Connor said in a statement. AAP

Qantas Airways
has suffered a further hiccup on its new flights to Dallas/Fort Worth, but the airline said it was confident the route was a viable one.

Australian-bound Qantas flight QF8 was on the way from North Texas to Brisbane when its pilots decided to make an unscheduled stop at Noumea to refuel because of what the airline described as “stronger than forecast" headwinds. AAP

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Wet and wild weather has caused chaos across Sydney, with city motorists rescued from flash flooding and a driver killed in a major freeway crash. After drenching overnight rain, the Sydney CBD received about 20mm from 9am, the Bureau of Meteorology said. It has issued a severe weather warning for flash flooding for the Hunter, Sydney metropolitan and Illawarra regions.

“The heavy rain is expected to hang around for the next few days," the bureau said.Wires

A Victorian plan to introduce minimum jail terms for young violent offenders will set them up for a life of crime, a former prison chaplain warns. The government wants to introduce statutory two-year minimum sentences for 16- and 17-year-olds convicted of crimes involving gross violence. Peter Norden, who was the senior chaplain at Pentridge Prison for seven years and is now a vice-chancellor’s fellow at the Melbourne Law School, has condemned the policy. AAP

Colombia’s Vice-Minister for Trade, Gabriel Duque, is visiting Australia this week hoping to convince the federal government to develop a free trade agreement with the South American nation. “We want to raise the profile and bring some more awareness on the potential of increasing the economic links between our two countries," Mr Duque said. AAP